Portales, NM Cost Of Living
Cost Of Living In Portales, NM Summary
Cost of living in Portales research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Portales is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Mexico, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Portales is 87, with 100 being the average.
The cost of living index in Portales is 0.9x lower than the national average.
Portales ranks as the #11 cheapest in New Mexico out of 45.
Portales ranks as the #777 cheapest out of 6,489 in the US.
The median home value in Portales is $135,903.
The median income in Portales is $51,290.
Table Of Contents
Portales's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Portales, NM?
According to the most recent data on the cost of living, Portales has an overall cost of living index of 87, which is 0.9x lower than the national index of 100.
Compared to New Mexico, Portales has a cost of living index that's 0.9x lower than New Mexico's index of 95.
The standard of living in Portales ranks as #11 most affordable out of the 45 places we measured in New Mexico. By definition, that implies Portales ranks as the #34 most expensive place in the Land of Enchantment.
For more reading on life in Portales, check out:
In New Mexico
In America
Portales Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in Portales. Here is how it fairs on each of the criteria:
The Services index in Portales is 95.
The Groceries index in Portales is 97.
The Health index in Portales is 91.
The Housing index in Portales is 70.
The Transportation index in Portales is 90.
The Utilities index in Portales is 88.
| Living Expense | Portales | New Mexico | National Average | |
|---|---|---|---|---|
| Overall | 87 | 95 | 100 | |
| Services | 95 | 96 | 100 | |
| Groceries | 97 | 96 | 100 | |
| Health | 91 | 95 | 100 | |
| Housing | 70 | 87 | 100 | |
| Transportation | 90 | 93 | 100 | |
| Utilities | 88 | 89 | 100 | |
Portales, NM Housing Cost Breakdown
Housing swings affordability the most between places in New Mexico, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Portales is $135,903.
The Median Rent in Portales is $870.
The Median Income in Portales is $51,290.
The Home Value To Income in Portales is 2.6x.
The Rent To Monthly Income in Portales is 0.2x.
| Statistic | Portales | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $135,903 | $311,815 | $303,400 |
| Median Rent | $870 | $1,021 | $1,348 |
| Median Income | $51,290 | $62,125 | $78,538 |
| Home Value To Income | 2.6x | 5.0x | 3.9x |
| Rent To Monthly Income | 0.2x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Portales, NM Costs By Category
Detailed Portales Services Costs Vs. New Mexico
| Item | Portales | New Mexico |
|---|---|---|
| Shampoo | $1.28 | $1.28 |
| Movie | $12.18 | $12.13 |
| Bowling | $22.25 | $18 |
| Haircut | $31.33 | $24.26 |
| Beauty Salon | $55.26 | $45.56 |
Detailed Portales Groceries Costs Vs. New Mexico
| Item | Portales | New Mexico |
|---|---|---|
| Ground Beef | $5.58 | $5.84 |
| Fried Chicken | $1.67 | $1.57 |
| Milk | $4.55 | $4.67 |
| Potatoes | $4.87 | $4.93 |
| Pizza | $13.76 | $12.09 |
| Beer | $10.37 | $10.41 |
| Toothpaste | $3.68 | $3.7 |
Detailed Portales Health Costs Vs. New Mexico
| Item | Portales | New Mexico |
|---|---|---|
| Optometrist | $129.03 | $125.68 |
| Doctor | $113.33 | $135.78 |
| Dentist | $109.67 | $113.29 |
Detailed Portales Transportation Costs Vs. New Mexico
| Item | Portales | New Mexico |
|---|---|---|
| Gasoline | $3.26 | $3.46 |
| Tire Balancing | $55.19 | $59.92 |
Detailed Portales Utilities Costs Vs. New Mexico
| Item | Portales | New Mexico |
|---|---|---|
| All Electricity | $189.14 | $193.99 |
| Phone | $207.58 | $192.25 |
Portales SnackAbility
/10
Cost Of Living In Cities Around Portales
The cost of living varies in the cities and towns around Portales. Here's a quick look at the cost of living in the most populous nearby places:
Clovis, NM has a cost of living index of 88, 1.0x Portales.
| City | Population | Cost Of Living | Vs. Portales |
|---|---|---|---|
| Clovis, NM | 38,153 | 88 | 1.0x |
